Condo conversions in Albany

The total number of rental units eligible for conversion to condominiums each year shall not exceed three (3%) percent of the City's total multi-family rental housing stock as of January 1 of that year.

The total number of rental units approved for conversion to condominiums in the first annual consideration shall not exceed sixty (60%) percent of the total annual allotment

For tenants over the age of sixty-two (62) who have lived in their unit for at least two (2) years, an amount not to exceed three (3) times the monthly rent.

For all other tenants, an amount not to exceed one and one-half (1-1/2) times the monthly rent.

The City shall notify, in writing, each present tenant of the time and place of the meeting date when tentative parcel or subdivision map is to be discussed by the Planning Commission at least ten (10) days prior to such meeting.

Within five (5) days of issuance of the subdivision public report, pursuant to Section 11018.2 of the Business and Professions Code, the subdivider shall notify all tenants, in writing, of the date of issuance of the report.

That each tenant (subject to the terms of his/her lease/rent agreement) has a right of occupancy of at least one hundred twenty (120) days after being given written notice of intention to convert, or until the expiration of tenant's lease, whichever is longer, prior to termination of tenancy due to condominium conversion.

In any case, such tenant shall have a right to occupancy for at least one hundred eighty (180) days following the written Notice of Intention to Convert.

After submittal of the tentative map, any prospective tenants shall be notified in writing of the intent to convert prior to leasing or renting any unit.

The right shall run for a period of not less than sixty (60) days from the date of issuance of the said report, unless the applicant receives prior written notice of the tenant's intention not to exercise the right.